1 / 14

Major Expenditures : Housing

Major Expenditures : Housing. Personal Finance Mrs. Bullock. Food, Transportation and Housing: Over 60% of Average Spending. Source: 2011 Consumer Expenditure Survey. Housing: Largest Expense for Most. Choose housing that fits your personal needs and ________________________.

Download Presentation

Major Expenditures : Housing

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Major Expenditures: Housing Personal Finance Mrs. Bullock

  2. Food, Transportation and Housing:Over 60% of Average Spending Source: 2011 Consumer Expenditure Survey

  3. Housing: Largest Expense for Most Choose housing that fits your personal needs and ________________________

  4. Renting a Home – Important Terms

  5. What are common rental expenses? Where can you find a place to rent? Costs of housing: Rent Payment and…..

  6. When Comparing Properties What are examples of essential vs. preferred features?

  7. What types of questions would you ask when comparing rental properties? ___________ Costs ______________

  8. Rental Agreement What types of questions does a landlord ask on a rental application? Don’t pay any deposits or rent payments without a ________________________! Helps a landlord evaluate if they will rent to you

  9. What initial expenses may be required to rent a property? One or both expenses may be required:

  10. ______________________ a Home

  11. Home Loan Most use __________ to purchase a home Lender determines the maximum amount that can be borrowed and the credit ____________

  12. What expenses are involved? Two Significant Initial Expenses ________________________ Mortgage: A _____________ to pay off the loan used to purchase housing

  13. Purchasing a $250,000 Home Scenario 1: Down Payment3.5% Interest Rate  30 Year Loan $8,708.33 paid for mortgage insurance! Scenario 2: Credit Score $50,000 Down Payment 30 Year Loan $7,924.42 Additional interest paid Source: mortgagecalculator.org

  14. Home Ownership Expenses and Benefits to Net Worth • ___________ Housing expenses: __________ – the monetary value of a property minus the amount owed

More Related